Con We have been sold a bill of goods, and as much as one might like to blame the merchants of credit, we are the ones who have bought into it. No one forced us to bow the knee to the life-long credit god, Baal, or be subject to the fiery furnace. We are responsible. We accept as a part and parcel part of living in the 21st Century that we just have to have a car payment. Really?

Consider buying less, paying it off quickly, then continue to pay yourself the same payment until your car is a piece of junk. Now you have got a nice down payment to restart the same cycle. Do this three or four times (at the most) and that down payment will soon become enough cash to buy a car outright! Yes you can!

• Read Chapter 8 of the textbook by Kapoor, Dlabay, & Hughes

• Read pages 1-2 of Clayton Cramer’s Personal Finance Tips
  
  
• Calculate how long it will take to finish paying off your current automobile, then make an honest evaluation of how long you think you can keep it going until you have to replace it. If you do not have payments on your vehicle, create a scenario in which you have a remaining balance of $4,000 to $6,000.

• Calculate how much of a down payment you’ll have by paying yourself during this keep-it-going period. Do this again and again until you reach a point where you reasonably believe you can own an automobile free and clear.

• Write 2-3 paragraphs describing your findings. Also discuss if this exercise has changed how you consider personal car purchase planning.

Support your work with scholarly academic resources, textbooks, or other sources provided. Use of APA format is required.